CALCULATOR FULL SCREEN PRINTER VERSION Problem 8-4 The stockholders' equity accounts of Novak Corp. on January 1, 2017, were as follows. Preferred Stock (6%, $100 par noncumulative, 5,000 shares authorized) $300,000 Common Stock ($4 stated value, 300,000 shares authorized) 1,000,000 Pald-in Capital in Excess of Par Value-Preferred Stock 15,000 Pald-in Capital in Excess of stated Value-Common Stock 480,000 Retained Earnings 692,000 Treasury Stock (5,000 common shares) 40,000 During 2017, the corporation had the following transactions and events pertaining to its stockholders' equity. Feb. 1 Issued 5,000 shares of common stock for $30,000 Mar. 20 Purchased 1,000 additional shares of common treasury stock at 39 per share. Oct. 1 Declared a 6% cash dividend on preferred stock, payable November 1 Nov. 1 Paid the dividend declared on October 1 Dec. 1 Declared a $0.45 per share cash dividend to common stockholders of record on December 15, payable December 31, 2017 Dec. 31 Pald the dividend declared on December 1 (a) Prepare a tabular summary that includes the January 1, 2017, balances. Do not include the beginning balance in Retained Earnings in the tabular summary (b) Record the 2017 transactions in the tabular summary (Round answers to 0 decimal places, e.g. 5,275. If a transaction causes a decrease in Assets Liabilities or Stockholders' Equity place a negative sign for pare front of the amount entered for the particular Asset, Liability or Equity item that was reduced.)